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Panthera Resources PLC weighs the impact of proposed new amendment to India's mining act

Panthera Resources PLC weighs the impact of proposed new amendment to India's mining act
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Investegate |Panthera Resources Announcements | Panthera Resources: MMDR Bill of 2021

Panthera Resources Plc (AIM: PAT), the diversified gold exploration and development company with assets in West Africa and India, advises that the Government of India has introduced a new bill (MMDR2021) into the Lok Sabha, the Lower House of the Government of India s (GoI) Parliament, to amend the Mines and Minerals (Development and Regulation) Act of 2015 (MMDR2015).

As the bill has only recently been made available, the Company is yet to seek formal legal advice on its application to our investments in India and any comments expressed herein are merely preliminary.

In the event this new MMDR2021 act is passed by both houses of Parliament, the Company believes that it may have an impact on the Company s joint venture partner, Metal Mining India Pvt Ltd (MMI), in terms of its right to secure approval of its Prospecting Licence Applications (PLAs) for the Bhukia and Taregaon Projects in India. ....

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